"Tidbits From TNT" Thursday Morning 9-9-2021

Sep 9

TNT:

Tishwash: International Development confirms its readiness to provide investment opportunities in Kurdistan

The Chief of the Kurdistan Regional Office, Fawzi Hariri, received today, Thursday, the Chairman of the Board of Directors of the International Development Bank, Ziyad Khalaf Abd, in the context of strengthening partnerships and cooperation with financial institutions in the region, while the latter confirmed the bank's readiness to provide investment opportunities for Kurdistan.

A statement from the office of the head of the regional office, received by the "National News Center", stated that "Hariri received today in his office the Chairman of the Board of Directors of the International Development Bank, and reviewed with him the most important achievements and developments at the level of the bank and the huge infrastructure of the bank, including its application of the controls and standards of the information technology system.

Which led to the bank obtaining the highest standards of classification and evaluation at the level of Iraqi banks, despite all the challenges experienced by the Iraqi banking sector in general.”

On the other hand, the Chairman of the Board of Directors of the International Development Bank stressed to “Hariri the bank’s keenness to cooperate with all regional banks in the field of developing infrastructure and activating advanced electronic payment systems.”

He expressed the bank's readiness to "provide the best banking services in accordance with the digital financial technology that the bank has reached and approved international standards, and to provide investment opportunities in accordance with a future vision and strategic directions to support all vital sectors and what the next stage requires." link

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Tishwash: Economist: Supporting the private sector in the media only, and the wealthy have become a burden on Iraqis

The economic expert, Basem Jamil Antoine, described the support of the private sector as "media only."

Antoine told Al-Furat News: "We suffer from instability in the prices of materials and goods as a result of a series of unbalanced changes that affected the exchange rates of the dollar, in addition to the Corona pandemic, which increased the economic crisis and greatly affected the poor classes."

He added: "Carpentry, electricity, and others led to a loss of stability and monetary inflation that raised the value of the dollar, and at the same time, an economic downturn pushed the purchasing power of the citizen to a low level and the weakness of local production."

And Antoine said: "Iraq is not poor and its budget is large;

And he continued, "There is no law of solidarity and retirement, a health social security for the Iraqi citizen to live on during the ban period, and support for the private sector is found in statements only, and there is no implementation on the ground, and the private sector law since 2014 has not taken its role in implementation."

Antoine added, "The private sector constitutes 8 million citizens, all of whom are exposed to calamities, diseases and others without a real security law for them. There are 3 million and 500 citizens living in slums, and this is a problem that we hope to address seriously."

He noted: "The real obstacles that stand in the way of supporting the private sector are rampant corruption, lack of real will and mismanagement," declaring: "The current economic reform came to serve the rich and against the poor, and the government had to create job opportunities and internal production. link

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Tishwash: It provides about 100,000 job opportunities for both sides.. Developments of the joint economic city between Iraq and Jordan

The Director General of the Industrial Cities Authority in the Ministry of Industry and Minerals, Hamid Awad Muhammad, revealed new details about the joint economic city between Iraq and Jordan, confirming that an agreement had been reached to resolve the implementation procedures.

Muhammad said in a statement to the official newspaper, followed by "Yes Iraq", that "an agreement has been reached to resolve the procedures for implementing the economic city between Iraq and Jordan within the boundary between them, 500 meters from their borders, and north of the Trebil port located in Anbar Governorate."

He added that "the city, which will have an area of four thousand and 800 acres, with a width of 2000 meters and a length of six thousand meters, will be implemented under a joint administration, and facilities will be provided to the industries of the two countries, and will provide 50 to 100 thousand job opportunities for the people of the two countries."

And Muhammad indicated that “the economic city includes three main areas: the industrial city, the two free zones, and the logistical support, while the proposed area for the establishment of the area will be 400 acres inside and it is capable of expansion in the future, with the establishment of a city similar to it on the Jordanian side,” noting that “it will be managed The city jointly after choosing a site for its construction. link

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